Originally Posted by Major Tom
I think it would be fun to squander some money when I'm older - or have the luxury of being able to give away some during the course of my everyday life. I'm thinking things such as bigger tips, footing bills in stores for strangers in need, donating to charities etc.
This is my spending method, I retired last year with a lot of money. I am gifting things to my boyfriend this week he got a grill, and folding table and 26 baby chickens so I blew about $500 on him. I have given thousands of dollars to nieces and nephews and 10K to a great nephew for college, he will get another 10K in the fall to help with senior year. I also spent 28K on a boat for my boyfriend last year.
I messed up retirement planning and ended work with about 3X what I needed. I am giving to charities and tipping way too much. I got a $12 hair cut and gave about $10 tip. I always add at least $3 to any tip now just because they can use the money more than I can. I am even sending online shopping gifts to a cat like cases of his favorite food because I like shopping.
My withdrawals are about 1% for spending and maybe 2% to spend or gift to others or blow on stuff I don't really need like new tires, ball joint tightening, brakes and shocks for a truck I seldom drive because it got a flat tire.